Well it's been a pretty decent trading week for me this week with 3 winners out of 3 so I have nothing to complain about. Two of the trades didn't generate as much profit as I would have liked but one trade did work out very nicely.
Let's start with this trade first of all. It was on the USD/JPY pair and it occurred on Monday evening. I was looking for the EMAs to cross downwards on the 4 hour chart because the daily Supertrend indicator was still indicating a downward trend, and after doing so I went short at 89.62. I then closed half the position for 46 points the next day and let the other half run, finally closing out the position at 88.50.
The two trades that didn't go to plan occurred on the GBP/USD and GBP/JPY pairs. Again I was looking to go short on both these pairs and after the EMAs crossed downwards I entered short positions at 1.5930 and 142.78 respectively after waiting for a slight pull-back. Thankfully they did both reach their initial profit targets of 50 and 70 points but the second half of the position was automatically closed out at break-even on both positions.
So overall it was a decent enough week and I'm more than happy with those returns. There's actually a few crossovers happening as I speak on the GBP/USD, GBP/JPY, EUR/GBP and USD/JPY pairs but as it's Friday afternoon (here in the UK) I think I'm going to call it quits and start again next week.
Have a great weekend.
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